HomeMy WebLinkAboutBudget/Finance Committee Minutes 04.18.1994?i.
MINUTES
BUDGET/FINANCE COMMITTEE
APRIL 18, 1994 4:30 P.M.
OLD COUNCIL CHAMBERS
MEMBERS PRESENT: Chairman- Donna Kilpatrick
Bob Graham Don Hackmann
Ron Marshall Gay Easton
Chuck Rodgers Bob Gauthier
The committee reviewed the following 1994-95 budgets:
G.O. PAP Bonds
Using the cash on hand and assessing 2 1/2 mills this year (instead
of 3 mills), there should be sufficient cash to make the final
principle and interest payment in June 1995.
G.O. Storm Sewer Bonds
The assessment will remain at 14 mills this year. For the years
1995, 1996 & 1997, the committee recommended assessing 16 1/2
mills. By doing this there should be sufficient cash to make the
final principle and interest payment in June 1998, which would be
a year earlier than originally planned.
Any remaining cash after the PAP Bonds and interest have been paid,
should be transferred to either the General fund or to another G.O.
bond issue, per MCA 7-7-4274.
It was recommended that any remaining cash from the PAP Bond
sinking fund be transferred to the Storm Sewer bond sinking fund.
Street Lighting Districts 2 and 3
The committee recommended to leave the maintenance assessments in
both light districts the same as last year.
Snow Removal Assessment
Discussion regarding removing tree limbs and branches from streets
and alleys when the damage has been caused by a snow storm.
The committee recommended that this cost of removal be paid out of
the snow removal fund.
There is a cash reserve in the snow removal fund sufficient for
about 2 or 3 years. Motion by Ron Marshall, seconded by Bob
Graham, to not make any assessment in 1994. Motion carried.
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Discussion regarding the transfer of money to the Capital Projects
fund for the purchase of a computer system for the Police
Department. More on this later when the Police Department budget
is reviewed.
The meeting was adjourned at 5:05 p.m.
Respectfully submitted,
Don Hackmann
City Clerk
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